NBU keeps key policy rate at 15.5%

The Board of the National Bank of Ukraine (NBU) has decided to keep the key policy rate at 15.5%.

The NBU announced this, Ukrainian News Agency reports.

It is noted that against the backdrop of persistent inflationary risks, in particular those related to future international financing, such a decision is necessary to maintain the attractiveness of hryvnia instruments, the stability of the foreign exchange market, and the controllability of expectations in order to bring inflation to the 5% target over the policy horizon.

The NBU will respond flexibly to further changes in the distribution of risks for price dynamics.

In the event of persistent or increasing inflationary risks, in particular due to uncertainty regarding external financing, the NBU will be ready to refrain from easing interest rate policy, and if necessary, take additional measures.

In turn, the easing of inflationary risks will allow the NBU to move to a cycle of easing interest rate policy.

As Ukrainian News Agency earlier reported, in March 2021, the NBU raised the key policy rate to 6.5%, in April - to 7%, in July - to 8%, in September - to 8.5%, in December - to 9%, in January 2022 - to 10%, in June 2022 - to 25%.

In July 2023, the NBU reduced the key policy rate from 25% to 22%, in September - to 20%, in October - to 16%, in December - to 15%, in March 2024 - to 14.5%, in April - to 13.5%, in June - to 13%, in December 2024 it increased to 13.5%, in January 2025 - to 14.5%, in March - to 15.5%.

At the same time, the Board of Directors of the Bank of russia at a previous meeting decided to reduce the key policy rate from 17% to 16.5% per annum.

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